How to Start A Business
Starting your own business can sometimes be daunting. I realized after starting a few companies myself and helping friends that are going through the process, that I was having a hard time finding a step-by-step guide that will walk you through each step of starting your business that included links to the resources you need. So, for all of my entrepreneur aspiring friends, here you go. Good luck with your venture and please let me know additional topics that would be of help in your endeavors.
Step 1: Begin with a Business Plan. A business plan is a blueprint of every aspect of your business. Sales, Marketing, Advertising, Promotion and Location are just some of the aspects of creating a plan. Click on the following link to the US Small Business Administration to find a tutorial on how to create a business plan.
Step 2: Choose a Business Structure. Select a business entity type from the following list for a brief overview of the principal types of legal business structures available in California. A legal representative and accountant should be consulted before making a determination as to the type of business entity to form. There are several great companies that will help you decide and submit the paperwork for you. See below for recommendations.
· Sole Proprietorship
· Corporation
· Limited Liability Company
· Limited Partnership
· General Partnership
Step 3: File a fictitious name statement . If you use your initials or first and middle name along with your last name in the name of your business, such as A.L. Jones Materials, or Albert L. Jones Materials, you do not need to file for a fictitious name. If you use just your initials, first name or last name such as ALJ Materials, Albert Materials, or Jones Materials, you need to file for a fictitious name. If you use Sons or Company, such as Al Jones and Company Materials, or Al Jones and Sons Materials, you must file for a fictitious name. If you use any other name other than your legal given name or initials, you must file a fictitious name and have it published in a local paper. Signature Filing is a great reliable company to complete this process for you.
Step 4: Register your domain name. Even if you don’t have any idea as to what you would want on a website, it is very, very important to secure your domain name (which is the name that follows after the www…when customers are trying to find you on the internet. Your domain name is your cyberspace business location, and having a good name that is memorable, searchable and descriptive is essential for business stability and success. Of the many domain name registry companies out there, BoyBlu.Net offers this service at a great price as well as website hosting and design.
Step 5: Obtain a resale permit, if required. Many businesses are required to obtain a permit from the State Board of Equalization (BOE) for "selling or acquiring any tangible items for repair or use in their business." You must have a resale permit if your business is commercial home-based, sales, or repair oriented. As a note - whatever parts or supplies are purchased at wholesale for later resale, you must have a resale permit.
Step 6: Get Information Regarding Taxes. If your business will have employees other than yourself, contact the Employment Development Department (EDD) for information on state withholding taxes, disability and unemployment insurance. For businesses employing only the owners, contact the Franchise Tax Board (FT
for state withholding and corporation state taxes. Step 7: Obtain your Employer Identification Number. Contact the Internal Revenue Service (IRS) for your employer identification number. The IRS will also provide a "business person's kit," seminars for new businesses, additional information and required forms.
Step 8: Open a Business Bank Account . It's vital to have your business transactions separtate from your personal spending. If you have decided on an entity other than a sole prioritorship, you will need the following documents to open your business account: Fictitious Name Statement
Articles of Incorporation ( for LLC or Corp)
Formation Agreement (ex Partnership Agreement) listing the current officers, partners, members, directors
All members must be present when opening the bank account to sign the documents.
Step 9: Apply For a Business License. Most businesses require licenses or permits in order to operate. Please click on each of the resources below to determine if your business requires any licenses or permits.
CalGold
Consumer Affairs
When filing for a license, you will need the following information to complete the application process:
Your business name and address
Your business telephone number
Description of your business
The number of employees on staff
The property owner's name and the telephone number of the person to contact in case of an emergency
The name, address, and telephone numbers of any contractors who will be involved in the operation of your
business (i.e., gardeners, janitorial service, consultants, etc.)
Your social security number
Your State employee I.D. number
Your Driver's License number
Your Federal I.D. number
Additional Business Start Up Resources and Recommendations
Internet Solutions including domain name registration, website hosting & design, ecommerce, and much more.
The Company Corporation Fast, reliable & affordable Incorporation and LLC services. Nationwide services with offices in all 50 states, Registered Agent, Mail Forwarding services & More.
Legal Zoom Developed by expert attorneys with experience at the most prestigious law firms in the country, LegalZoom has helped over 400,000 satisfied customers take care of common legal matters.
PayPal As the world's number one online payment service, PayPal is the fastest way to open your doors to over 150 million member accounts worldwide. Best of all, it's free to sign up!
Phone.com For small business and home businesses (SOHO), Phone.com offers - Virtual Office solution that lets you get a local or toll-free 800 numbers (including vanity numbers) for your business and manage them however you want. In addition, the virtual office service includes custom greetings, auto attendant, voicemail, Internet fax receiving, call transfer and many more features you would expect from very expensive business phone system, all available from Phone.com at a very affordable cost.
Service Corps of Retired Executives (SCORE) SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE offers free and confidential advice to help you build your business-from idea to start-up to success.
Signature Filing File & Publish your DBA/Fictitious with ease and convenience.
U.S. Small Business Administration
The federal Small Business Administration offers assistance to entrepreneurs and business owners, from start-up to business management and financing, and more.
Posted by Boy Blu at 5/7/2009 8:46 PM 
Categories: small business
Tags: fictitious name business plan business license how to business
Categories: small business
Tags: fictitious name business plan business license how to business
Comments